Yahoo CEO and five board members step down as Ross Levinsohn named interim CEO and Scott Thompson discloses he has cancer.

Apple drops "4G" from UK iPad ads and reportedly bringing retina display to MacBook Pro while Foxconn prepares for Apple TV production.

Facebook co-founder renounces U.S. citizenship to avoid $600M in taxes as almost-over IPO roadshow focuses on mobile and Apple co-founder Steve Wozniak wants in. (Also, wish Mark Zuckerberg a happy 28th birthday today.)

ABC bids adieu to Desperate Housewives.

Ally mortgage unit files for bankruptcy.

Avon weighs sweetened offer from Coty. (Update: Coty withdrew its offer late Monday.)Continue reading...

"There’s currently three trillion images on the Internet. We want to turn every one into an interactive experience," says James Everingham in a recent TechCrunch article. Everingham is the co-founder and CTO of Pixazza, one of the companies leading the growing online wave of in-image advertising, and with $20 million in funding—including $6 million from Google Ventures—it appears that investors are heeding his call.

Described as “AdSense for images,” in-image advertising enables online consumers to click on a photo of Lindsay Lohan, for instance, and buy the striped sweater she’s wearing (or at least something like it). Publishers, who get a piece of the advertising revenues, simply match the products in their images to corresponding items in Pixazza’s massive database of advertiser inventory, encompassing entertainment, fashion, travel, home and sports merchandise. With a current network of more than seventy-five publishers, including US Weekly and Access Hollywood, Pixazza is reaching in excess of 25 million unique visitors a month.Continue reading...

Remember magazines? They used to be those bound packets of paper filled with glossy photos of celebrities, stimulating articles – and of course, lots of advertisements. Big brand magazines like People, Vogue, ESPN, and many others have been actively promoting a collective ad campaign called the “power of print,” hoping that it will save them from their inevitable kowtow to the digital world.

With the introduction to Apple’s iPad a few months ago, it appeared that Apple was throwing all print media – magazines in particular – a much-needed life line. However, with the recent pro-magazine propaganda push, magazines could very well be taking for granted the very market forces that may indeed save them.Continue reading...

Save Your Logo campaign enlists Lacoste's help for crocodile protection. [idsgn]

Environmental consumer efforts aim to change behavior; threaten Charmin. [Daily Beast]

Chief NY Times editor appears to confirm imminence of Apple's Tablet. [Valleywag]

Consumers unwilling to trade down from Tide, Kraft, Coke. [Marketing Charts]

Ex-Star/US Weekly editor Bonnie Fuller's Hollywood Life "looks like what would happen if In Touch and Life & Style got wasted on cosmos and then barfed all over the internet." [Gawker]